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The transitional period between which two phases has its own name?
Absolute PPP
Absolute Purchasing Power Parity, an economic theory suggesting that goods in different countries should have the same price when expressed in a common currency.
Trade Barriers
Measures that governments or public authorities introduce to make imported goods or services less competitive than locally produced goods and services.
Exchange Rate
The price at which one currency can be exchanged for another.
Transaction Costs
Transaction costs are expenses incurred when buying or selling a good or service, which include fees, taxes, and other charges associated with the transaction.
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